Canada’s Inflation Rises to 2.6% in February – What It Means for Homeowners
Canada’s annual inflation rate rose to 2.6% in February, surpassing expectations and marking the first time in seven months that inflation has exceeded the Bank of Canada’s 2% target midpoint. This increase was largely driven by the end of a temporary sales tax break and broad-based price hikes across various sectors. How Inflation Affects Mortgage […]
Bank of Canada Cuts Interest Rate to 2.75%: What It Means for You
The Bank of Canada (BoC) has officially lowered its key interest rate by 0.25%, bringing it down to 2.75%. This marks the seventh consecutive rate cut since last summer. But why is this happening, and what does it mean for businesses, homeowners, and the broader Canadian economy? Let’s break it down in simple terms. Why […]
Bank of Canada Poised to Cut Rates to 2.75%—What It Means for You
A rate cut next week looks all but certain. Could more be on the way? Canada’s economic landscape is shifting, and mortgage holders could soon benefit. With the Bank of Canada expected to lower its key interest rate to 2.75% next week, borrowers might see some much-needed relief after months of high rates. Why Is […]
Canada’s Economy Shows Strength, But Will It Last? What It Means for Mortgage Rates
Canada’s economy outperformed expectations in late 2024, with GDP growing at an annualized 2.6%—well above the 1.7% forecast. Household spending, fuelled by lower interest rates and a temporary sales tax holiday, played a major role in this growth. But despite these positive signs, potential U.S. tariffs could put a damper on economic momentum in 2025. […]
Trade Tensions & Your Mortgage: What You Need to Know
With tariffs and trade disputes making headlines, many are wondering how this could impact mortgages, home prices, and affordability. Here’s what’s happening and what it means for you. The Impact of Tariffs on Housing Recent U.S. tariffs on Canadian steel and aluminum could drive up construction costs, leading to: Higher home prices due to rising […]
Canada’s Inflation Rate Rises to 1.9%—What It Means for Homeowners
Rising energy costs pushed Canada’s inflation rate up to 1.9% in January, despite a temporary national GST break, according to Statistics Canada. The increase was largely driven by higher energy prices, which were 5.3% higher than last January. Gas prices jumped 8.6% year-over-year, with Manitoba seeing the largest increase due to the return of the […]
Canada’s Job Market Gains Strength – What It Means for Your Mortgage
Canada’s economy added 76,000 jobs in January, bringing the unemployment rate down to 6.6%—a strong sign of recovery. Job growth outpaced expectations, reflecting increased economic activity despite ongoing trade uncertainties. Why This Matters for Homebuyers & Homeowners: ✅ Stronger Job Market = More Financial Stability A healthier job market can boost consumer confidence and improve […]
Bank of Canada Cuts Interest Rate to 3%
Bank of Canada Cuts Interest Rate to 3% – What It Means for Homebuyers and the Economy The Bank of Canada (BoC) has lowered its key interest rate by 25 basis points, bringing it down to 3%. While this move aims to support economic growth, the central bank has also issued a warning about potential […]
Canada’s Inflation Rate Drops to 1.8%: What You Need to Know
Good news for Canadians: inflation fell to 1.8% in December, thanks in part to the federal GST holiday. This temporary tax break lowered the cost of restaurant food, alcohol, and children’s clothing, offering some relief to households. The GST break, which began mid-December, will last through January, giving consumers even more savings this month. Here […]
Canada Ends 2024 on a High Note: Job Market Surges Ahead!
Canada closed out 2024 on a high note, with the economy adding an impressive 91,000 jobs in December—nearly four times what experts had forecast. This unexpected growth helped lower the national unemployment rate to 6.7%, down from 6.8% in November. Where the Jobs Came From According to Statistics Canada, job gains were seen across different […]
